Getting Mortgage - Junior Scientist

[Zachlain]

Hi Guys,

Having saved for a decent deposit in the last couple of years, I am thinking of joining the property ladder soon if it is possible for me.

Although I have a good (and very well paid) job as a junior scientist, the job is not permanent and I am on a fixed-term contract. The prospects for a permanent job in the future are very good, but I will have to complete the early part of my career on a fixed-term contract.

My question is can I get a mortgage if I have a fixed-term contract? Is it better to wait until I have secured a permanent job?

Any help will be greatly appreciated.

[Sarnie]

Without knowing the rest of your circumstances, it should be a problem.

Drop me a mail if you need any further help

[Fatman2]

I was working in a uni doing research work when I got my first mortgage. I had a run of 3 and 6 month fixed term contracts and it wasn't a problem. That was over 10 years ago though so not sure what the situation is nowadays.

I'd say if you were a safe bet i.e. decent financial profile, then it shouldn't be a problem. I've just remortgaged and am self employed with less than 2 years books. Yet the lender was fine about it.

[jagracer]

Fatman2 said:

I was working in a uni doing research work when I got my first mortgage. I had a run of 3 and 6 month fixed term contracts and it wasn't a problem. That was over 10 years ago though so not sure what the situation is nowadays.

I'd say if you were a safe bet i.e. decent financial profile, then it shouldn't be a problem. I've just remortgaged and am self employed with less than 2 years books. Yet the lender was fine about it.

Things have changed drastically in the last three years, see my other thread about my daughter trying to get a mortgage. I'm not saying the OP has no chance but it's not quite so easy as it used to be and he may need the assistance of a good mortgage broker.

[Kudos]

jagracer said:

and he may need the assistance of a good mortgage broker.

As much chance of finding one of them as finding a good mortgage deal

[Zachlain]

Thanks for all the reply guys. So it seems that because of the tough economic climate, banks may be less inclined to give me a mortgage until i get a permanent post.

Sarnie said:

Without knowing the rest of your circumstances, it should be a problem.

Drop me a mail if you need any further help

What kind of info do you need in the email Sarnie?